Samsuri: Terengganu plans turnaround for loss-making GLCs
KUALA TERENGGANU: The Terengganu government is drawing up measures to turn around 20 state government-linked companies (GLCs) that recorded losses, as identified in the Auditor General’s Report Series 2/2026.
KUALA TERENGGANU: The Terengganu government is devising strategies to revive 20 loss-making state-linked companies (GLCs), as outlined in the Auditor General's Report Series 2/2026. Chief Minister Dr Ahmad Samsuri Mokhtar highlighted that the administration routinely reviews the financial health and performance of these entities through monthly gatherings.
The government supports the report's conclusions, including the Auditor General's findings. Samsuri, who also represents Kemaman in Parliament, stated that the state conducts its own audits alongside those performed by the National Audit Department. Notably, the state incurred losses exceeding RM24.01 million in 2024, with these losses markedly different from those reported a decade prior.
Some subsidiaries had never turned a profit and faced closure under the current administration, which began in 2018. The government is implementing various measures to avert further financial setbacks for its subsidiaries.
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